Article 46Competent authorities
Without prejudice to the provisions on the Oversight Framework for critical ICT third-party service providers referred to in Chapter V, Section II, of this Regulation, compliance with this Regulation shall be ensured by the following competent authorities in accordance with the powers granted by the respective legal acts:
(a) for credit institutions and for institutions exempted pursuant to Directive 2013/36/EU, the competent authority designated in accordance with Article 4 of that Directive, and for credit institutions classified as significant in accordance with Article 6(4) of Regulation (EU) No 1024/2013, the ECB in accordance with the powers and tasks conferred by that Regulation;
(b) for payment institutions, including payment institutions exempted pursuant to Directive (EU) 2015/2366, electronic money institutions, including those exempted pursuant to Directive 2009/110/EC, and account information service providers as referred to in Article 33(1) of Directive (EU) 2015/2366, the competent authority designated in accordance with Article 22 of Directive (EU) 2015/2366;
(c) for investment firms, the competent authority designated in accordance with Article 4 of Directive (EU) 2019/2034 of the European Parliament and of the Council;
(d) for crypto-asset service providers as authorised under the Regulation on markets in crypto-assets and issuers of asset-referenced tokens, the competent authority designated in accordance with the relevant provision of that Regulation;
(e) for central securities depositories, the competent authority designated in accordance with Article 11 of Regulation (EU) No 909/2014;
(f) for central counterparties, the competent authority designated in accordance with Article 22 of Regulation (EU) No 648/2012;
(g) for trading venues and data reporting service providers, the competent authority designated in accordance with Article 67 of Directive 2014/65/EU, and the competent authority as defined in Article 2(1), point (18), of Regulation (EU) No 600/2014;
(h) for trade repositories, the competent authority designated in accordance with Article 22 of Regulation (EU) No 648/2012;
(i) for managers of alternative investment funds, the competent authority designated in accordance with Article 44 of Directive 2011/61/EU;
(j) for management companies, the competent authority designated in accordance with Article 97 of Directive 2009/65/EC;
(k) for insurance and reinsurance undertakings, the competent authority designated in accordance with Article 30 of Directive 2009/138/EC;
(l) for insurance intermediaries, reinsurance intermediaries and ancillary insurance intermediaries, the competent authority designated in accordance with Article 12 of Directive (EU) 2016/97;
(m) for institutions for occupational retirement provision, the competent authority designated in accordance with Article 47 of Directive (EU) 2016/2341;
(n) for credit rating agencies, the competent authority designated in accordance with Article 21 of Regulation (EC) No 1060/2009;
(o) for administrators of critical benchmarks, the competent authority designated in accordance with Articles 40 and 41 of Regulation (EU) 2016/1011;
(p) for crowdfunding service providers, the competent authority designated in accordance with Article 29 of Regulation (EU) 2020/1503;
(q) for securitisation repositories, the competent authority designated in accordance with Articles 10 and 14(1) of Regulation (EU) 2017/2402.
DORA, the European Union regulation on digital operational resilience, Article 46
Who supervises compliance. Subject to the separate oversight of critical ICT providers, each financial entity is supervised under this Regulation by the authority responsible for it under its own sectoral legal act, exercising the powers that act gives it. The Article lists them: the authority designated under the Capital Requirements Directive for credit institutions, with the ECB for institutions classified as significant under the Single Supervisory Mechanism; the Payment Services Directive authority for payment institutions, electronic money institutions and account information service providers; the Investment Firms Directive authority for investment firms; the markets-in-crypto-assets authority for crypto-asset service providers and issuers of asset-referenced tokens; and the authorities designated under the relevant legal acts for central securities depositories, central counterparties, trading venues, data reporting service providers, trade repositories, credit rating agencies, securitisation repositories, alternative investment fund managers, management companies, insurers, intermediaries, pension institutions, critical benchmark administrators and crowdfunding providers.
The Article creates no new supervisor for financial entities: each is supervised by the authority its sectoral act already designates. Article 50 gives those authorities a minimum set of powers under this Regulation, and Member States must lay down penalties for breaches. Article 53 required Member States to notify their implementing national provisions to the Commission and the ESAs.
Text: Regulation (EU) 2022/2554, as published in the Official Journal of the European Union, from EUR-Lex. Only the Official Journal text is authentic.